Popular Finance scam: Owners absconding after taking Rs 2,000-cr from investors

coastaldigest.com news network
August 27, 2020

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Konni, Aug 27: Investors may lose around Rs 2,000 after the owners of Kerala’s Popular Finance shut down the firm and went underground.

With the increasing number of complaints against the firm and its owners, a special team has been appointed to investigate the matter. However, the owner filed an insolvency petition in the court the other day.

Popular Finance had 274 branches inside and outside. Though the company had been working well, a sudden financial crisis led to its collapse.

The company was owned by Roy (Thomas) Daniel, his wife Prabha and their family residing in Vakayar. Two weeks ago, the family shut the company’s registered office in Vakayar and went absconding. Based on complaints from the investors, Konni police registered a cheating case against Roy and Prabha. It is learned that the company owes money to over 1,500 people including NRIs.

As the registered office was closed, investors started reaching other branches demanding their money back. Following this, the other branches are also being closed down. K G Simon pointed out that the firm does not have the resources to return all the money to the investors. More investigations are being held into other firms owned by the family.

People had invested between Rs 10,000 and Rs 80,000 in the company. Most of them made the investments for constructing houses, for marriage and to earn income after retirement. The investors said that they were paid interests properly until last month.

Those who deposited smaller amounts in the company raised complaints first. Many of those who have invested huge sums in the firm are yet to register complaints. Police have received proof that the company was not functioning properly for the last four years.

Alerts have been sounded in airports to prevent the owners from escaping to foreign countries. Konni CI P. S. Rajesh is in charge of the investigation. Popular Finance was founded in 1965 by T. K Daniel, father of Roy.

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News Network
January 13,2025

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Los Angeles wildfires have continued their trail of devastation, razing death tolls to 24 and destroying thousands of structures, while intensifying winds are worsening the situation for both civilians and firefighters.

In an update on Sunday evening, the County of Los Angeles Department of Medical Examiner said a total of 24 people have died due to the wildfires.

According to the examiner, this number is only an estimate as hundreds of people in various parts of the county are still missing.

Weather forecasters in California are also warning fierce winds which fuelled the infernos around Los Angeles are expected to pick up again this week.

The notoriously dry Santa Ana winds would pick up again from Sunday night until Wednesday, reaching speeds of up to 96km/h, they said.

The most dangerous day will be Tuesday, said weather service meteorologist Rich Thompson. “You are going to have really strong gusty Santa Ana winds, a very dry atmosphere and still very dry brush, so we still have some very critical fire weather conditions out there,” he added.

On Saturday, the flames spread east, creeping closer to Interstate 405 and a busy mountain pass. This is a “significant development,” said L.A. County spokesman Jesus Ruiz.

With the fire rapidly growing and moving in the direction of “a heavily populated area … we are definitely concerned,” he continued.

Gavin Newsom, governor of California said that he believes that in terms of costs associated with the wildfire, it will be the worst natural disaster in terms scale and scope in the history of the US, and the fatalities is likely to increase significantly as well.

On Sunday, private forecaster Accuweather increased its preliminary estimate of financial losses from the blazes to between $250 billion to $275 billion. The wildfires are on track to be among the costliest in US history.

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News Network
January 18,2025

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Kadaba, Jan 18: In a heartrending incident, a 16-year-old student lost his life on Friday, January 18, after the motorbike he was riding skidded off the road and plunged into a culvert on the Dharmasthala–Mardhala–Subrahmanya state highway near Gargaspal, Peradka. 

The accident spot falls under the Noojibaltila gram panchayat in Kadaba taluk of Dakshina Kannada district. 

The victim, Ashish, a tenth-grade student from a private school in Peradka, was the beloved son of Vishwanath of Hosamane Kaana in Noojibaltila village. His untimely demise has left his parents and sibling in profound grief.

The accident occurred during Ashish’s routine commute to school. Despite the swift intervention of a local resident, Sridhar, who rushed him to a private hospital in Kadaba, medical efforts could not save him. A case has been registered at the Kadaba police station.

The culvert where the accident happened has long been criticized by locals for its flawed and unsafe design. Numerous accidents have reportedly occurred at this spot, prompting repeated appeals from residents for immediate rectification. Community members have once again called upon authorities to prioritize repairs to prevent further tragedies.

Responding to the incident, Kadaba tahsildar Prabhakar Khajure underscored the importance of curbing underage driving. He directed the police department to take stringent action against minors found operating vehicles and cautioned parents about the serious consequences of providing vehicles to underage children.

This incident serves as a grim reminder of the pressing need for both infrastructural improvements and stricter enforcement of traffic regulations to safeguard young lives.

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News Network
January 15,2025

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Another Palestinian journalist has been killed in an Israeli attack in the Gaza Strip, taking the death toll to 205 since early October 2023 when the occupying Tel Aviv regime launched its all-out onslaught against the blockaded coastal sliver.

Local organizations identified the new victim as Ahlam al-Nafed, who recently reported from the besieged Indonesian Hospital in northern Gaza for Drop Site News and other media outlets.

She was killed on Tuesday as she was walking to al-Shifa Hospital – the largest medical complex and central hospital in the Gaza Strip, and located in the neighborhood of northern Rimal in Gaza City.

“For the past 100 days, Ahlam chronicled the genocide in northern Gaza, capturing evidence of Israeli war crimes from the besieged Indonesian Hospital.

“Through her words and images, she ensured that atrocities which might have been silenced were brought to light, allowing the world to witness the brutal reality unfolding there,” Drop Site News wrote in a statement published on its X account on Tuesday.

It underlined that Ahlam’s work documenting the attacks on the Indonesian Hospital was irreplaceable.

“She was one of the last remaining voices in northern Gaza — a voice the world desperately needed. Without her, the full extent of Israel’s actions might never have been known,” the statement also read.

For its part, the Indonesian Hospital said, “Ahlam courageously documented the genocide in north Gaza, residing in the medical facility during its siege, taking evidence of war crimes and bearing witness to tell the story with her pictures and her words, many of which we shared with you.”

Journalists working within the Palestinian territory face heightened risks while covering the genocidal war, particularly in light of Israeli ground assaults and airstrikes, as well as challenges such as disrupted communications, shortages of supplies, and power outages.

In the face of these difficulties, Palestinian journalists have continued to document the atrocities of the war, acting as the global community's eyes and ears throughout one of the most deadly wars of the 21st century.

Backed by the United States and its Western allies, Israel launched the war on Gaza on October 7, 2023, after the Palestinian resistance movement Hamas carried out Operation Al-Aqsa Flood against the Israeli regime in response to its decades-long campaign of oppression against Palestinians.

The regime’s bloody onslaught on Gaza has so far killed at least 46,645 Palestinians, mostly women and children, and injured 110,012 others. Thousands more are also missing and presumed dead under rubble.

On November 21 last year, the International Criminal Court (ICC) issued arrest warrants for Israeli prime minister Benjamin Netanyahu and former minister of military affairs Yoav Gallant for war crimes and crimes against humanity in Gaza.

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